BofA Recon Advise

Anonymous · ‎08-24-2015

I am trying to get a recon from BofA for their secured card, but haven't had any luck so far. Obviously I am trying to rebuild, so I am a bit surprised that I a having difficulty being approved for a card that would do that. Their only concerns are my collections, however, I have paid off several other debts and had them removed, so there is no way of them seeing my progress. Any advise? Or are there and "magic" words that I can use to sway their decision? Also, can they see everytime I call in for a recon?

P.S. I had a previous CO that I burned them on but that isn't even their concern, they never brought it up. Could that still be a part of their decision. Thanks in advance for any help.

RobertEG · ‎08-24-2015

They are not required to provide a listing of all factors used in their determination.

Having record of a prior debt with them that you did not pay would certainly be a huge negative factor in any decision to extend you new credit.

They are required under the FCRA only to inform you if they used a credit report as part of their determination, and advise of your right to send a copy of their denial letter to the CRA from which they obtained that credit report and obtain a free copy of your credit report from that CRA.

Anonymous · ‎08-24-2015

Thanks for your input, however, I am aware of everything you stated. And although they are not required, the rep still did. Also, I paid the debt in full as soon it appeared on my report back then. My post was more so about whether there is any chance that I could sway a rep to recon and approve.

Anonymous · ‎08-24-2015

I wouldn't hurt to call and ask. Nothing ventured, nothing gained. If it is still a no go then maybe try Cap One. Good luck.

Anonymous · ‎08-24-2015

Thank you for your advise. I've actually tried Cap One and was declined before. They declined me during the time BofA approved me previously, so I have tried them again. I figured if BofA declined this time, they would also. However as you said, nothing ventured nthing gained

tbque · ‎08-24-2015

I had to Recon BOA a few months back when they declined me for a secured card. I too had burned them back in 2012 and still have not paid that off. I called one of the backdoor numbers on that thread. I explained that I was starting to rebuild and since I bank with them and they hold my mortgage that I really wanted to start with their card. The CSR put me on hold and came back and said the CO had been long enough that she could approve me for the secured card with $300 deposit from my BOA checking account. So I would recommend you try to Recon.

BOA Customized Cash Rewards Visa Platinum Plus | $300

Navy Federal CU Refinance | $23,492 @ 5.29%

Capital One Auto Finance | $14,068 @ 9.12%

Anonymous · ‎08-24-2015

Thanks for the advise. After reading your comment, I am wondering if it would be easier if I had an account with them. I preiviosly had checking/saving accounts with them but closed it because I opened a USAA acount. Some charges came though afterwards but I paid those, so I currently don't owe BofA any money whatsoever. Also, I don't really think the CO I had with them is a deciding factor, especially since I quickly PIF. It's my other COs that's causing the issue, according to what the credit analyst said. I don't have all of the funds to fully take care of those at the moment but I am saving to get them taken care of by the end of this year. I also wonder if Monday isn't the best dy for recons, some people despise Mondays lol. Just for more clarity: The COs brought up were Verizon $1500 from 2013 or 2014 (this I have been disputing for a while because it does not belong to me. I currently have a Verizon account so I'm not sure how this happened.) The other is a medical bill for $549 which I will be taking care of asap. There are a couple more, but those weren't addressed.

tbque · ‎08-24-2015

I have a total of 10 COs with none of them paid as of yet but they still approved me. But like I stated I have a checking, savings and mortgage with them and I make about $90k a year.

ddemari · ‎08-24-2015

BOA secured card is one of the harder secured cards to get. Having a banking relationship with them helps. But, an EX score of 500 is probably too low for them. there have been people getting denied with a 600 score. Sorry OP

Anonymous · ‎08-24-2015

When I had reconed my card in April, the analyst had noted that I had both checking and savings accounts and commended my loyalty since 2001. Sounded to me like that may have helped me some.